$128 Billion In Total Treasuries On Deck, $70 Billion In Bonds

You didn't think the $9 trillion budget deficit was going to finance itself did you? Neither did the Department of the Treasury. Which is why it just announced $128 billion in Treasuries on deck, of which $70 billion in 3, 10 and 30 Year Notes, to be auctioned off on September 8, 9 and 10th. With $25 billion in remaining Fed buybacks, September will be a very interesting month indeed: the Treasury portion of QE will likely be exhausted by the end of next week via POMOs: one only hopes China sees this as a positive development.As a point of reference, August saw $272 billion in new issues, while September's runrate is now at $384 billion (and a $4.6 trillion annual runrate).